Replies to post #319184 on Spongetech Delivery Systems Inc (fka SPNGQ)

[scion]

The "Commission" and the Securities and Exchange Commission are not separate entities.

http://www.tradingmarkets.com/news/stock-alert/asrpf_enforcement-proceedings-commission-revokes-registration-of-securities-of-orderpro-logistics-inc--881325.html

does the SEC in and of itself have the power to revoke a company

[scion]

The "Commission" and the Securities and Exchange Commission are not separate entities.

For example -

ENFORCEMENT PROCEEDINGS - Commission Revokes Registration of Securities of Orderpro Logistics, Inc. (n/k/a Securus Renewable Ene
Posted on: Tue, 30 Mar 2010 16:31:56 EDT
Symbols: ASRPF

Mar 30, 2010 (SECURITIES AND EXCHANGE COMMISSION RELEASE/ContentWorks via COMTEX) --

On March 30, 2010, the Commission revoked the registration of each class of registered securities of Orderpro Logistics, Inc. (n/k/a Securus Renewable Energy, Inc.) (SERW) for failure to make required periodic filings with the Commission.


http://www.tradingmarkets.com/news/stock-alert/asrpf_enforcement-proceedings-commission-revokes-registration-of-securities-of-orderpro-logistics-inc--881325.html

does the SEC in and of itself have the power to revoke a company

[loanranger]

OT,
Further to scion's clarification, the SEC(Commission) filed the complaint in the US District Court. They would have to issue the company a separate "Order Instituting Proceedings" to initiate the revocation process, which I presume is covered in the link that he provided.

[TEX]

"commission" = subset of "SEC"

They don't revoke a company; they revoke the registration of the stock. Doing so requires notification to the company, giving it the chance to respond, then an admin hearing.

[puppydotcom]

yes, the SEC can revoke the registration